INDIAN BILLIONAIRE GAUTAM ADANI CHARGED IN U. S. FOR ALLEGED BRIBERY, FRAUD. (PHOTO).

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  Indian billionaire Gautam Adani charged in US for alleged bribery, fraud Gautam Adani, the chair of Indian conglomerate Adani Group and one of the world’s richest people, whose business empire extends from ports and airports to renewable energy,has been indicted in New York over an alleged multibillion-dollar fraud scheme, United States prosecutors have said. The authorities on Wednesday charged Adani and two other executives at Adani Green Energy, his nephew Sagar Adani and Vneet Jaain, with agreeing between 2020 and 2024 to pay more than $250m in bribes to Indian government officials to obtain solar energy supply contracts expected to yield $2bn in profits. Prosecutors said the renewable energy company also raised more than $3bn in loans and bonds during this period based on false and misleading statements. Shares of Adani Enterprises, the group's flagship firm, closed down 22% on Thursday. Other group firms also closed in the red. Adani Green Energy, which is the firm at the c
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PALLIATIVE: CASH TRANSFER IS A SCAM- GOV UBA SANI.(PHOTO).

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Palliative: Cash transfer is a scam- Gov Uba Sani


Governor Uba Sani of Kaduna State has said that plans by the Federal government to transfer N8,000 cash to 12 million poor Nigerians as a form of palliative to cushion the effect of fuel subsidy removal is a ‘scam’.


In an interview with Arise Television, Sani said there was no certainty of an accurate and updated database of the Nigerian people that will benefit from the scheme.


“My position has always been that, at this critical time, cash transfer should not be something that we should bring up. I think that cash transfer for me, in my opinion, is a scam. Completely it’s a scam. I can be very certain about that, because who are you transferring the money to?


Let me give an example, go and check the current statistics. Like I said, as the Chairman, Committee of Banking for four years in Nigeria, I oversight Central Bank, I oversight all the commercial sectors of our economy for the last four years and I looked at the statistics, I will be very firm on this issue and you can go and check it.


About 70 to 75 per cent of the rural population in North West are financially excluded completely. You will have to go and check, these people we are talking about are important people in the society. They do not even have a bank account so who are you transferring the money to?” he said 


The governor added that the social register has not been updated, giving a case study of the North West region, that about 70% of the rural population was not captured in 2019 due to insecurity. He said this as he defended the position of the National Executive Council (NEC) saying the social register lacked credibility.


“In my opinion, what we said was that the social register should be updated. If you are aware, some of the names were put together as far back as 2019. And of course, nothing is constant. For example, some local governments in my state are not captured largely because of the insecurity in the state, and believe me, truly, the social register lacks credibility,” he said

 

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